The North America Floating Production Storage and Offloading (FPSO) Market would witness market growth of 6.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Floating Production Storage and Offloading (FPSO) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $10,266.5 million by 2031. The Canada market is experiencing a CAGR of 8.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.5% during (2024 - 2031).
The floating production storage and offloading (FPSO) market represents a key component of the offshore oil and gas industry. FPSOs are specialized ships designed to extract, process, store, and offload oil and gas from offshore fields. These vessels are critical to operations in deepwater and ultra-deepwater fields where installing traditional fixed platforms is impractical. FPSOs are highly versatile, offering a flexible solution to exploration and production (E&P) activities, particularly in remote locations.
Additionally, FPSOs are primarily used to extract, process, and store oil and gas. Their applications span the entire production lifecycle, from early exploration to full-scale production. In addition, FPSOs are essential for offshore oil and gas extraction, especially in deepwater or ultra-deepwater fields.
As production levels rise, more offshore projects will require advanced infrastructure like FPSOs to handle the challenges of deepwater drilling and remote operations. FPSOs offer a flexible and efficient solution for production and storage in offshore fields that are often too far from land for traditional platforms. The increasing production in the Gulf of Mexico means that oil companies will continue to rely on FPSOs for enhanced oil recovery and for maintaining production in mature or challenging offshore fields. This growing reliance will fuel the demand for new FPSOs and upgrades to existing units.
Free Valuable Insights: The Floating Production Storage and Offloading (FPSO) Market is Predict to reach USD 38.89 Billion by 2031, at a CAGR of 6.7%
Based on Type, the market is segmented into Converted and New Build. Based on Propulsion, the market is segmented into Self-Propelled and Towed. Based on Application, the market is segmented into Shallow Water, Deepwater, and Ultra-Deepwater. Based on Hull Type, the market is segmented into Double Hull and Single Hull. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- ABB Group
- Exxon Mobil Corporation
- Emerson Electric Co.
- TotalEnergies SE
- Kongsberg Group
- McDermott International, Ltd.
- MODEC, Inc.
- Bluewater Energy Services B.V.
- SBM Offshore N.V.
- Shell plc
North America Floating Production Storage and Offloading (FPSO) Market Report Segmentation
By Type
By Propulsion
By Application
- Shallow Water
- Deepwater
- Ultra-Deepwater
By Hull Type
By Country
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Floating Production Storage and Offloading (FPSO) Market, by Type
1.4.2 North America Floating Production Storage and Offloading (FPSO) Market, by Propulsion
1.4.3 North America Floating Production Storage and Offloading (FPSO) Market, by Application
1.4.4 North America Floating Production Storage and Offloading (FPSO) Market, by Hull Type
1.4.5 North America Floating Production Storage and Offloading (FPSO) Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Porter Five Forces Analysis
Chapter 5. North America Floating Production Storage and Offloading (FPSO) Market by Type
5.1 North America Converted Market by Region
5.2 North America New Build Market by Region
Chapter 6. North America Floating Production Storage and Offloading (FPSO) Market by Propulsion
6.1 North America Self-Propelled Market by Country
6.2 North America Towed Market by Country
Chapter 7. North America Floating Production Storage and Offloading (FPSO) Market by Application
7.1 North America Shallow Water Market by Country
7.2 North America Deepwater Market by Country
7.3 North America Ultra-Deepwater Market by Country
Chapter 8. North America Floating Production Storage and Offloading (FPSO) Market by Hull Type
8.1 North America Double Hull Market by Country
8.2 North America Single Hull Market by Country
Chapter 9. North America Floating Production Storage and Offloading (FPSO) Market by Country
9.1 US Floating Production Storage and Offloading (FPSO) Market
9.1.1 US Floating Production Storage and Offloading (FPSO) Market by Type
9.1.2 US Floating Production Storage and Offloading (FPSO) Market by Propulsion
9.1.3 US Floating Production Storage and Offloading (FPSO) Market by Application
9.1.4 US Floating Production Storage and Offloading (FPSO) Market by Hull Type
9.2 Canada Floating Production Storage and Offloading (FPSO) Market
9.2.1 Canada Floating Production Storage and Offloading (FPSO) Market by Type
9.2.2 Canada Floating Production Storage and Offloading (FPSO) Market by Propulsion
9.2.3 Canada Floating Production Storage and Offloading (FPSO) Market by Application
9.2.4 Canada Floating Production Storage and Offloading (FPSO) Market by Hull Type
9.3 Mexico Floating Production Storage and Offloading (FPSO) Market
9.3.1 Mexico Floating Production Storage and Offloading (FPSO) Market by Type
9.3.2 Mexico Floating Production Storage and Offloading (FPSO) Market by Propulsion
9.3.3 Mexico Floating Production Storage and Offloading (FPSO) Market by Application
9.3.4 Mexico Floating Production Storage and Offloading (FPSO) Market by Hull Type
9.4 Rest of North America Floating Production Storage and Offloading (FPSO) Market
9.4.1 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Type
9.4.2 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Propulsion
9.4.3 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Application
9.4.4 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Hull Type
Chapter 10. Company Profiles
10.1 ABB Group
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 SWOT Analysis
10.2 Exxon Mobil Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.2.5 SWOT Analysis
10.3 Emerson Electric Co.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 SWOT Analysis
10.4 TotalEnergies SE
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 SWOT Analysis
10.5 Kongsberg Group
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 SWOT Analysis
10.6 McDermott International, Ltd.
10.6.1 Company Overview
10.7 MODEC, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.8 Bluewater Energy Services B.V.
10.8.1 Company Overview
10.9 SBM Offshore N.V.
10.9.1 Company Overview
10.10. Shell plc
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expenses
10.10.5 SWOT Analysis
TABLE 1 North America Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 2 North America Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 3 North America Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 4 North America Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 5 North America Converted Market by Region, 2020 - 2023, USD Million
TABLE 6 North America Converted Market by Region, 2024 - 2031, USD Million
TABLE 7 North America New Build Market by Region, 2020 - 2023, USD Million
TABLE 8 North America New Build Market by Region, 2024 - 2031, USD Million
TABLE 9 North America Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 10 North America Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 11 North America Self-Propelled Market by Country, 2020 - 2023, USD Million
TABLE 12 North America Self-Propelled Market by Country, 2024 - 2031, USD Million
TABLE 13 North America Towed Market by Country, 2020 - 2023, USD Million
TABLE 14 North America Towed Market by Country, 2024 - 2031, USD Million
TABLE 15 North America Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 16 North America Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 17 North America Shallow Water Market by Country, 2020 - 2023, USD Million
TABLE 18 North America Shallow Water Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Deepwater Market by Country, 2020 - 2023, USD Million
TABLE 20 North America Deepwater Market by Country, 2024 - 2031, USD Million
TABLE 21 North America Ultra-Deepwater Market by Country, 2020 - 2023, USD Million
TABLE 22 North America Ultra-Deepwater Market by Country, 2024 - 2031, USD Million
TABLE 23 North America Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 24 North America Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 25 North America Double Hull Market by Country, 2020 - 2023, USD Million
TABLE 26 North America Double Hull Market by Country, 2024 - 2031, USD Million
TABLE 27 North America Single Hull Market by Country, 2020 - 2023, USD Million
TABLE 28 North America Single Hull Market by Country, 2024 - 2031, USD Million
TABLE 29 North America Floating Production Storage and Offloading (FPSO) Market by Country, 2020 - 2023, USD Million
TABLE 30 North America Floating Production Storage and Offloading (FPSO) Market by Country, 2024 - 2031, USD Million
TABLE 31 US Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 32 US Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 33 US Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 34 US Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 35 US Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 36 US Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 37 US Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 38 US Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 39 US Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 40 US Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 41 Canada Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 42 Canada Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 43 Canada Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 44 Canada Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 45 Canada Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 46 Canada Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 47 Canada Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 48 Canada Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 49 Canada Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 50 Canada Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 51 Mexico Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 52 Mexico Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 53 Mexico Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 54 Mexico Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 55 Mexico Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 56 Mexico Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 57 Mexico Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 58 Mexico Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 59 Mexico Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 60 Mexico Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 61 Rest of North America Floating Production Storage and Offloading (FPSO) Market, 2020 - 2023, USD Million
TABLE 62 Rest of North America Floating Production Storage and Offloading (FPSO) Market, 2024 - 2031, USD Million
TABLE 63 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2023, USD Million
TABLE 64 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Type, 2024 - 2031, USD Million
TABLE 65 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2023, USD Million
TABLE 66 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2024 - 2031, USD Million
TABLE 67 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2023, USD Million
TABLE 68 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Application, 2024 - 2031, USD Million
TABLE 69 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2023, USD Million
TABLE 70 Rest of North America Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2024 - 2031, USD Million
TABLE 71 Key Information – ABB Group
TABLE 72 Key Information – Exxon Mobil Corporation
TABLE 73 Key Information – Emerson Electric Co.
TABLE 74 Key Information – TotalEnergies SE
TABLE 75 Key Information – Kongsberg Group
TABLE 76 Key Information – McDermott International, Ltd.
TABLE 77 Key Information – MODEC, Inc.
TABLE 78 Key Information – Bluewater Energy Services B.V.
TABLE 79 Key Information – SBM Offshore N.V.
TABLE 80 Key Information – Shell plc
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Floating Production Storage and Offloading (FPSO) Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Floating Production Storage and Offloading (FPSO)Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Floating Production Storage and Offloading (FPSO) Market
FIG 6 North America Floating Production Storage and Offloading (FPSO) Market share by Type, 2023
FIG 7 North America Floating Production Storage and Offloading (FPSO) Market share by Type, 2031
FIG 8 North America Floating Production Storage and Offloading (FPSO) Market by Type, 2020 - 2031, USD Million
FIG 9 North America Floating Production Storage and Offloading (FPSO) Market share by Propulsion, 2023
FIG 10 North America Floating Production Storage and Offloading (FPSO) Market share by Propulsion, 2031
FIG 11 North America Floating Production Storage and Offloading (FPSO) Market by Propulsion, 2020 - 2031, USD Million
FIG 12 North America Floating Production Storage and Offloading (FPSO) Market share by Application, 2023
FIG 13 North America Floating Production Storage and Offloading (FPSO) Market share by Application, 2031
FIG 14 North America Floating Production Storage and Offloading (FPSO) Market by Application, 2020 - 2031, USD Million
FIG 15 North America Floating Production Storage and Offloading (FPSO) Market share by Hull Type, 2023
FIG 16 North America Floating Production Storage and Offloading (FPSO) Market share by Hull Type, 2031
FIG 17 North America Floating Production Storage and Offloading (FPSO) Market by Hull Type, 2020 - 2031, USD Million
FIG 18 North America Floating Production Storage and Offloading (FPSO) Market share by Country, 2023
FIG 19 North America Floating Production Storage and Offloading (FPSO) Market share by Country, 2031
FIG 20 North America Floating Production Storage and Offloading (FPSO) Market by Country, 2020 - 2031, USD Million
FIG 21 SWOT Analysis: ABB GROUP
FIG 22 SWOT Analysis: Exxon Mobil Corporation
FIG 23 Swot Analysis: EMERSON ELECTRIC CO.
FIG 24 SWOT Analysis: TotalEnergies SE
FIG 25 SWOT Analysis: Kongsberg Group
FIG 26 SWOT Analysis: Shell plc